OGE Energy Corp. (OGE) To Go Ex-Dividend on July 7th

OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Friday, May 16th, Wall Street Journal reports. Investors of record on Monday, July 7th will be given a dividend of 0.4213 per share by the utilities provider on Friday, July 25th. This represents a $1.69 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Monday, July 7th.

OGE Energy has raised its dividend payment by an average of 1.1% annually over the last three years and has raised its dividend every year for the last 18 years. OGE Energy has a dividend payout ratio of 69.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect OGE Energy to earn $2.42 per share next year, which means the company should continue to be able to cover its $1.69 annual dividend with an expected future payout ratio of 69.8%.

OGE Energy Stock Up 1.0%

Shares of NYSE:OGE opened at $44.36 on Friday. The stock’s 50-day moving average is $44.61 and its 200 day moving average is $43.33. The company has a market cap of $8.93 billion, a PE ratio of 20.16, a P/E/G ratio of 3.30 and a beta of 0.61. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. OGE Energy has a 1 year low of $34.20 and a 1 year high of $46.91.

OGE Energy (NYSE:OGE) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. Sell-side analysts anticipate that OGE Energy will post 2.27 EPS for the current year.

Wall Street Analyst Weigh In

OGE has been the subject of a number of research reports. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a research note on Friday, May 9th. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Friday, April 11th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Wells Fargo & Company raised their target price on OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, May 1st. Finally, Barclays lifted their price target on OGE Energy from $44.00 to $45.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.40.

Insider Buying and Selling

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total transaction of $302,841.00. Following the completion of the transaction, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. The trade was a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OGE Energy

An institutional investor recently raised its position in OGE Energy stock. Millennium Management LLC increased its position in OGE Energy Corp. (NYSE:OGE) by 1,160.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,965 shares of the utilities provider’s stock after purchasing an additional 87,433 shares during the period. Millennium Management LLC’s holdings in OGE Energy were worth $4,365,000 at the end of the most recent reporting period. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.